North of 60 Mining News - The mining newspaper for Alaska and Canada's North

Goliath Resources Ltd. Aug. 10 reported that its first batch of assay results confirm high-grade intercepts indicated by visible gold encountered in holes drilled at its Golddigger property about 30 kilometers (19 miles) southeast of Stewart in Northern British Columbia.

A roughly 20,000-meter drill program that got underway in May has cut visible gold in multiple holes across a 1,600-meter-long area that covers Surebet Zone and Bonanza Shear.

Based on current modeling, Surebet is a roughly 5.5-million-cubic-meter zone that averages around 6.9 meters thick and 6.3 grams per metric ton gold-equivalent, which accounts for the value of both the gold and silver, and Bonanza is a roughly 13-million-cubic-meter zone that averages about 5.3 meters thick at 2.7 g/t gold.

Goliath reports that all 58 holes drilled so far this year have hit either the Surebet Zone or Bonanza Shear, and visible gold has been observed in the core pulled from 22 of those holes.

Now, the assays from this drilling are beginning to roll in. Highlights from the initial batch of assay results include:

• 4.9 meters averaging 3.97 g/t gold and 84.4 g/t silver (5.75 g/t gold-equivalent) from a depth of 66 meters in hole GD-23-115.

• Six meters averaging 14.66 g/t gold and 11 g/t silver (14.85 g/t gold-equivalent) from a depth of 33.9 meters in hole GD-23-118.

• 6.1 meters averaging 11.39 g/t gold and 148.9 g/t silver (14.01 g/t gold-equivalent) from a depth of 33.9 meters in hole GD-23-126.

All three of these holes were drilled within the Golden Gate Feeder Zone, an area at the southeast end of the 1,600-meter trend covering Surebet and Bonanza Shear.

Goliath Resources Ltd.

Based on modeling, Surebet is a roughly 5.5-million-cubic-meter zone that averages around 6.3 g/t gold-equivalent, and Bonanza Shear is a roughly 13-million-cubic-meter zone that averages about 2.7 g/t gold.

Holes GD-23-115 and GD-23-126, which were drilled from the same pad, both cut through what is interpreted to be the Surebet Zone. In June, Goliath reported multiple grains of up to 1.6-millimeter visible gold were observed in the core from GD-23-126. While no VG was seen in GD-23-115, the grades and widths of mineralization were nearly on par with the overall Surebet Zone modeled average.

Hole GD-23-118, which was collared roughly 500 meters south of GD-23-115 and GD-23-126, cut through what is interpreted to be the Bonanza Shear. This hole, which was also speckled with VG, is significantly higher-grade than what has been modeled at Bonanza Shear.

Goliath says all the visible gold encountered so far at Golddigger to date have been within quartz-breccia and veins in contact with or near sphalerite and galena mineralization. The company is collaborating with the Colorado School of Mines on a project aimed at determining the origin and evolution of the gold mineralizing fluids in the Surebet zone at Golddigger.

With the receipt of these first assays, a steady flow of results from the 2023 drilling at Golddigger is expected to begin rolling in soon.

Author Bio

Shane Lasley, Publisher

Over his more than 16 years of covering mining and mineral exploration, Shane has become renowned for his ability to report on the sector in a way that is technically sound enough to inform industry insiders while being easy to understand by a wider audience.

• Email: [email protected]
• Phone: (907) 726-1095
• https://www.linkedin.com/in/shane-lasley-ab073b12/